RBI Adds Aadhaar in List of Proofs Needed to Open A/cs

The RBI has made it easier to open new bank accounts by doing away with the need to provide separate proofs for identity and address. It has also added Aadhaar letters and cards as well as the NREGA job card to the list of eligible documents of proof for opening new accounts and to meet the know-your-customer, or KYC, norms. If the address on the document submitted for identity proof by the prospective customer is same as that declared by him/her in the account opening form, the document may be accepted as a valid proof of both identity and address, the banking regulator said in a notification issued to banks on Monday. The RBI has also clarified that since introduction is not necessary for opening of accounts under the PML Act and the rules of RBIs extant KYC instructions, banks should not insist on introduction for opening bank accounts of customers.

Economic Times, New Delhi, 11-12-2012